LRI Investments LLC Has $4.60 Million Stock Position in L3Harris Technologies Inc $LHX

LRI Investments LLC increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 18,318 shares of the company’s stock after purchasing an additional 652 shares during the period. LRI Investments LLC’s holdings in L3Harris Technologies were worth $4,595,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC raised its stake in L3Harris Technologies by 2.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after buying an additional 37 shares during the period. Independence Bank of Kentucky raised its stake in L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the period. DB Fitzpatrick & Co Inc raised its stake in L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after buying an additional 42 shares during the period. Norway Savings Bank raised its stake in L3Harris Technologies by 3.0% during the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company’s stock worth $374,000 after buying an additional 44 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in L3Harris Technologies by 3.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company’s stock worth $314,000 after buying an additional 45 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 195,138 shares of company stock worth $53,571,774 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday. Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Susquehanna increased their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Barclays increased their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada increased their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $278.19.

L3Harris Technologies Stock Performance

Shares of LHX opened at $292.45 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $54.72 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 2.14 and a beta of 0.76. The stock has a 50 day moving average of $281.74 and a 200 day moving average of $252.94. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the prior year, the company earned $3.24 earnings per share. L3Harris Technologies’s revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s dividend payout ratio is 53.63%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.